Choppy trading has dominated the market this year as debt-laden Greece, the risk of euro-zone contagion and a broad slowdown in economic activity have led to volatile swings. Today’s sharp losses are no exception.

But consider this: The S&P 500 has roughly traded between 1250 and 1350 all year. And analysts don’t expect the range-bound trading to change soon.

“While the recent decline in market sentiment may have become overdone, the upside to any equity- or credit-market rally into the summer is likely to be limited,” said Larry Kantor, head of research at Barclays Capital. “Although we expect a near-term crisis to be averted, we do not believe that any of the problems currently generating risk and volatility in markets are going to be solved in the next few months.”

The S&P 500 has been stuck in the same 100-point range since December. Market technicians say key short-term support remains in the 1250 to 1260 range, which includes the March low and the index’s 200-day moving average.